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As one of the world's most respected and largest electronics, media and entertainment conglomerates, our client is committed to strong corporate governance. To ensure that it continues to set the governance agenda for the industry, the company set up a separate treasury services arm to act as an internal banking system for the group, providing various services for its affiliate companies including a foreign exchange hedging service, re-invoicing, funding and financial advising, and reporting.
With business interests in over 100 countries, the group's business was growing, as a result, the treasury services team was faced with a significant increase in volume of work. This compounded the challenge of scale: increasing the team delivering treasury services in four major cities while reducing operational costs. As a thought leader in its industry, the client decided to outsource some of its treasury operations to a third party provider in what can inarguably be termed as an industry-first among third party business process outsourcing providers.
The client, after undertaking due diligence, which involved significant security-related rigor, chose to partner with WNS to enhance its treasury services capabilities, and reduce operational costs while maintaining the highest standards in regulatory compliance.
The WNS team provides business-critical services in major functional areas of treasury operations, including foreign exchange hedging, inter-company loans and deposits, cashless settlement, centralized cash pooling system, automatic sweeping service and proxy payment, to name a few. The scope of services also includes supporting the client's ancillary processes such as re-invoicing, business / financial planning, and access management for a range of treasury systems.
WNS extended the client's enterprise by successfully delivering crucial treasury support services with a strong focus on process integrity and regulatory compliance, while delivering significant cost savings.